BO Account stands for Beneficiary Owners Account. If you want to start investing and stock trading in the stock market in Bangladesh then you need to open a Beneficiary Owners account. Just like a Bank Account is used to hold your money, your BO account is used to hold your shares. All shares from new IPO’s and most of secondary market shares are in electronic form and a BO account, owned by you the investor, holds the electronic shares.
In general, there are two types of Beneficiary Owners Account. One is Single/Joint BO and the other is NRB BO (Non-Residential Bangladeshi). Besides, there is also another account called Link BO, which is used to transfer your existing BO account from one broker house to another broker house. As you are a general investor you need to open a Single or Joint BO account. A person can open two Beneficiary Owners account in his/her in Midway Securities Ltd.: one single account and one joint account.